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Forint Climbs as Central Bank Discusses Methods to Spur Growth

April 8, 2013 at 15:08 by Vladimir Vyun

Hungarian coins and notesThe Hungarian forint gained today as the central bank started meeting with commercial lenders to discuss plans to encourage loans and spur economic growth as a result.

The Magyar Nemzeti Bank discusses with private banks an introduction of interest-free loans that should help small businesses. It is one of unconventional methods used by the Bank to revive the economy. Today’s gains of the forint followed the last week’s rally, which was biggest in nine months. Previously, the currency was weak due concerns that the central bank may refer to quantitative easing as a way to boost growth.

USD/HUF fell from 230.6350 to 227.9200 as of 15:08 GMT today after rising to 231.1000 earlier.

If you have any questions, comments, or opinions regarding the Hungarian Forint, feel free to post them using the commentary form below.

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